Shepherd and Wedderburn advise on first UK investment property for Australian investor

Leading UK law firm Shepherd and Wedderburn has completed the acquisition of Elgin House, Haymarket Yards, Edinburgh, on behalf of an Australian client investing in commercial property, from a subsidiary of London & Regional for £10.2 million.

Originally built under a PFI contract, the 4553m2 Elgin House has been a regional office of the Inland Revenue in Edinburgh since the building opened more than ten years ago.  The purchaser is seeking to invest in commercial properties and this acquisition is their first in the UK.

The team at Shepherd and Wedderburn was led by Real Estate Partner Nick Ryden with assistance from other departments across the firm including planning, tax and banking.